Public Joint Stock Company «Novorossyisk Grain Plant» announces results of the offering

Public Joint Stock Company «Novorossyisk Grain Plant» announces results of the offering

15-12-2015

The information below may not be distributed outside of the Russian Federation. This information is released for information purposes only and, therefore, does not constitute and may not construed as an offer or an invitation to make an offer or information for executing any transactions, including transactions with securities or transactions intending to use or transfer securities or any interest therein. The information below contains "forward-looking statements", which include the description of intentions and plans in relation to the shares of Public Joint Stock Company «Novorossyisk Grain Plant» and can change from time to time, and does not constitute and may not construed as advertisement of securities, promise or guarantee of the sale of securities or any assets, placement of the securities or entry into any contract. This document contains personal assessments of the management, which may differ from those of third parties. An investor should evaluate his/her own risks while taking any investment decisions.

Public Joint Stock Company «Novorossyisk Grain Plant» ("Novorossyisk Grain Plant" or "NGP" or the "Company"), one of the largest grain terminals in Russia, announces the completion of a public offering ("IPO" or the "Offering") of ordinary shares of NGP (the "Shares") on the Moscow Exchange [1].

  • The price has been set at RUB 512 per Share.
  • Based on the IPO price, NGP's market capitalisation is RUB 34.5 billion.
  • The IPO size amounts to 7,291,000 Shares representing RUB 3.7 billion, offered by BELCARRA SERVICES LIMITED, a shareholder of NGP. The Offering size represents 10.8% Shares of the Company.
  • As a result of the Offering, the Company’s Free Float stands at more than 30% of the Shares including existing minority shareholders.
  • The start of trading on the Moscow Exchange is planned for 15 December 2015, after 13:00 MSK time. Ticker on the Moscow Exchange – NKHP.
  • The Company plans that the number of Shares outstanding will remain unchanged for 180 days after the Offering.
  • VTB Capital acted as the Sole Global Coordinator and Bookrunner of the Offering. BCS Financial Group acted as the Co-Lead Manager of the Offering. VTB Capital Broker acted as the Broker of the Offering. LECAP acted as the Legal Counsel of the Offering.

Alexey Chemerichko, the CEO of NGP, commented:

“The IPO and commencement of public trading in the Company’s shares is a remarkable milestone in the development of the NGP. A range of investors expressed genuine interest in the Company’s investment story and the grain terminal industry. During the Offering we have built a quality order book consisting of institutional and retail investors. Over 180 orders were submitted during the bookbuilding period, including more than 110 orders by individuals. As a result of bookbuilding the final price was set near the top of the price range. We warmly welcome our new shareholders and we remain focused on developing the Company, further enhancing business efficiency and increasing the value for all shareholders”

About the Company

Public company Novorossiysk Grain Plant (hereinafter – NGP or the “Company”) is one of Russia’s largest grain terminals. NGP’s facilities are located in the port of Novorossiysk on the Russian coast of the Black Sea, which serves as a main Russian grain export channel. NGP’s current capacity amounts to 3.5 million tons of grain a year and the terminal’s utilization rate is close to maximum. In the agricultural season of 2014-2015, NGP’s transshipment volume amounted to 3,550 thousand tons.

Russian grain maritime export market, where NGP operates, has entered the stage of rapid development. Over the last 15 years, Russian grain export has grown by almost 20 times. In the 2014-2015 season, Russian grain export exceeded 30 million tons (including the transit of grain from Kazakhstan). In the future export volumes will keep rising on the back of growing grain production in Russia and stable domestic consumption. According to the Ministry of Agriculture and the Ministry of Economic Development of the Russian Federation, grain production in Russia may surge up to 115 million tons by 2020. The majority of new production volumes are expected to be exported, which will boost demand for the services of deep-sea terminals.

Given that NGP is already close to maximum utilization, a large-scale expansion project has been launched. The investment project assumes reconstruction of the existing facilities but construction of new ones. As a result of the investment project, transshipment volumes are expected to increase to 6.1 million tons by 2018. NGP will be able to store up to 250 thousand tons of grains (forecast increase of 110 thousand tons) while the productivity of the conveyor gallery will increase from 1,600 to 3,500 tons per hour. Expansion has been launched and already in 2016 grain transshipment volumes should reach 4.5 million tons. Thus, NGP will retain one of the leading positions in the industry.

The Company has formed a reliable and stable client base. With such key clients as Vitol, Cargill, Glencore and Louis Dreyfus, the Company has been building relations throughout many years. Nevertheless, the terminal keeps on diversifying and enlarging the range of counterparties and strategic partners.

NGP is the only deep-see terminal in Russia with a diversified business model: in addition to transshipment services, it runs its own production facilities. Flour produced by NGP is both sold domestically and exported. The Company plans to build up its share of exports in the future, given the needs of the market.

The Company demonstrates excellent financial performance. In 2014, the Company’s revenue (according to IFRS financial statements) amounted to 3,090 million rubles, EBITDA - to 1,713 million rubles (55% EBITDA margin); net profit – to 1,319 million rubles (43% net income margin). The unique competences of NGP coupled with streamlined management processes triggered the surge of NGP’s revenue during 1H 2015 to 1,942 million rubles (it almost doubled y-o-y). As of 1 November 2015 NGP does not use debt financing. Historically, the Company used a significant part of its net profit for paying dividends (74% in 2014).

Successful realization of the set goals within the framework of the long-term development strategy allowed NGP to retain leadership in the segment of deep-sea transshipment of grain for export during 9 months of 2015, and create prerequisites for retaining leadership positions in the future.


[1] With the use of trading system and listing of CJSC «MICEX SE», a part of the Moscow Exchange Group.
 
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Public Joint Stock company «Novorossyisk Grain Plant» announces the extention of the period to submit orders

Public Joint Stock company «Novorossyisk Grain Plant» announces the extention of the period to submit orders

08-12-2015

The information below may not be distributed outside of the Russian Federation. This information is released for information purposes only and, therefore, does not constitute and may not construed as an offer or an invitation to make an offer or information for executing any transactions, including transactions with securities or transactions intending to use or transfer securities or any interest therein. The information below contains "forward-looking statements", which include the description of intentions and plans in relation to the shares of Public Joint Stock Company «Novorossyisk Grain Plant» and can change from time to time, and does not constitute and may not construed as advertisement of securities, promise or guarantee of the sale of securities or any assets, placement of the securities or entry into any contract. This document contains personal assessments of the management, which may differ from those of third parties. An investor should evaluate his/her own risks while taking any investment decisions.

Public Joint Stock Company «Novorossyisk Grain Plant» ("Novorossyisk Grain Plant" or "NGP" or the "Company"), one of the largest grain terminals in Russia, announces the extension of the period to submit orders for a public offering ("IPO" or the "Offering") of ordinary shares of NGP (the "Shares") on the Moscow Exchange[1].

The period to submit orders for the Offering has been extended: orders can be submitted since 9 December until 18:00 MSK time, 14 December 2015.

IPO price announcement and start of trading on the Moscow Exchange are expected on 15 December 2015.

About the Company

Public company Novorossiysk Grain Plant (hereinafter – NGP or the “Company”) is one of Russia’s largest grain terminals. NGP’s facilities are located in the port of Novorossiysk on the Russian coast of the Black Sea, which serves as a main Russian grain export channel. NGP’s current capacity amounts to 3.5 million tons of grain a year and the terminal’s utilization rate is close to maximum. In the agricultural season of 2014-2015, NGP’s transshipment volume amounted to 3,550 thousand tons.

Russian grain maritime export market, where NGP operates, has entered the stage of rapid development. Over the last 15 years, Russian grain export has grown by almost 20 times. In the 2014-2015 season, Russian grain export exceeded 30 million tons (including the transit of grain from Kazakhstan). In the future export volumes will keep rising on the back of growing grain production in Russia and stable domestic consumption. According to the Ministry of Agriculture and the Ministry of Economic Development of the Russian Federation, grain production in Russia may surge up to 115 million tons by 2020. The majority of new production volumes are expected to be exported, which will boost demand for the services of deep-sea terminals.

Given that NGP is already close to maximum utilization, a large-scale expansion project has been launched. The investment project assumes reconstruction of the existing facilities but construction of new ones. As a result of the investment project, transshipment volumes are expected to increase to 6.1 million tons by 2018. NGP will be able to store up to 250 thousand tons of grains (forecast increase of 110 thousand tons) while the productivity of the conveyor gallery will increase from 1,600 to 3,500 tons per hour. Expansion has been launched and already in 2016 grain transshipment volumes should reach 4.5 million tons. Thus, NGP will retain one of the leading positions in the industry.

The Company has formed a reliable and stable client base. With such key clients as Vitol, Cargill, Glencore and Louis Dreyfus, the Company has been building relations throughout many years. Nevertheless, the terminal keeps on diversifying and enlarging the range of counterparties and strategic partners.

NGP is the only deep-see terminal in Russia with a diversified business model: in addition to transshipment services, it runs its own production facilities. Flour produced by NGP is both sold domestically and exported. The Company plans to build up its share of exports in the future, given the needs of the market.

The Company demonstrates excellent financial performance. In 2014, the Company’s revenue (according to IFRS financial statements) amounted to 3,090 million rubles, EBITDA - to 1,713 million rubles (55% EBITDA margin); net profit – to 1,319 million rubles (43% net income margin). The unique competences of NGP coupled with streamlined management processes triggered the surge of NGP’s revenue during 1H 2015 to 1,942 million rubles (it almost doubled y-o-y). NGP does not use debt financing. Historically, the Company used a significant part of its net profit for paying dividends (74% in 2014).

Successful realization of the set goals within the framework of the long-term development strategy allowed NGP to retain leadership in the segment of deep-sea transshipment of grain for export during 9 months of 2015, and create prerequisites for retaining leadership positions in the future.


[1] With the use of trading system and listing of CJSC «MICEX SE», a part of the Moscow Exchange Group.

 

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Public Joint Stock company «Novorossyisk Grain Plant» announces the extention of the period to submit orders

Public Joint Stock company «Novorossyisk Grain Plant» announces the extention of the period to submit orders

30-11-2015

The information below may not be distributed outside of the Russian Federation. This information is released for information purposes only and, therefore, does not constitute and may not construed as an offer or an invitation to make an offer or information for executing any transactions, including transactions with securities or transactions intending to use or transfer securities or any interest therein. The information below contains "forward-looking statements", which include the description of intentions and plans in relation to the shares of Public Joint Stock Company «Novorossyisk Grain Plant» and can change from time to time, and does not constitute and may not construed as advertisement of securities, promise or guarantee of the sale of securities or any assets, placement of the securities or entry into any contract. This document contains personal assessments of the management, which may differ from those of third parties. An investor should evaluate his/her own risks while taking any investment decisions.

Public Joint Stock Company «Novorossyisk Grain Plant» ("Novorossyisk Grain Plant" or "NGP" or the "Company"), one of the largest grain terminals in Russia, announces the extension of the period to submit orders for a public offering ("IPO" or the "Offering") of ordinary shares of NGP (the "Shares") on the Moscow Exchange[1].

The period to submit orders for the Offering has been extended until 18:00 MSK time, 7 December 2015.

IPO price announcement and start of trading on the Moscow Exchange are expected on 8 December 2015.

About the Company

Public company Novorossiysk Grain Plant (hereinafter – NGP or the “Company”) is one of Russia’s largest grain terminals. NGP’s facilities are located in the port of Novorossiysk on the Russian coast of the Black Sea, which serves as a main Russian grain export channel. NGP’s current capacity amounts to 3.5 million tons of grain a year and the terminal’s utilization rate is close to maximum. In the agricultural season of 2014-2015, NGP’s transshipment volume amounted to 3,550 thousand tons.

Russian grain maritime export market, where NGP operates, has entered the stage of rapid development. Over the last 15 years, Russian grain export has grown by almost 20 times. In the 2014-2015 season, Russian grain export exceeded 30 million tons (including the transit of grain from Kazakhstan). In the future export volumes will keep rising on the back of growing grain production in Russia and stable domestic consumption. According to the Ministry of Agriculture and the Ministry of Economic Development of the Russian Federation, grain production in Russia may surge up to 115 million tons by 2020. The majority of new production volumes are expected to be exported, which will boost demand for the services of deep-sea terminals.

Given that NGP is already close to maximum utilization, a large-scale expansion project has been launched. The investment project assumes reconstruction of the existing facilities but construction of new ones. As a result of the investment project, transshipment volumes are expected to increase to 6.1 million tons by 2018. NGP will be able to store up to 250 thousand tons of grains (forecast increase of 110 thousand tons) while the productivity of the conveyor gallery will increase from 1,600 to 3,500 tons per hour. Expansion has been launched and already in 2016 grain transshipment volumes should reach 4.5 million tons. Thus, NGP will retain one of the leading positions in the industry.

The Company has formed a reliable and stable client base. With such key clients as Vitol, Cargill, Glencore and Louis Dreyfus, the Company has been building relations throughout many years. Nevertheless, the terminal keeps on diversifying and enlarging the range of counterparties and strategic partners.

NGP is the only deep-see terminal in Russia with a diversified business model: in addition to transshipment services, it runs its own production facilities. Flour produced by NGP is both sold domestically and exported. The Company plans to build up its share of exports in the future, given the needs of the market.

The Company demonstrates excellent financial performance. In 2014, the Company’s revenue (according to IFRS financial statements) amounted to 3,090 million rubles, EBITDA - to 1,713 million rubles (55% EBITDA margin); net profit – to 1,319 million rubles (43% net income margin). The unique competences of NGP coupled with streamlined management processes triggered the surge of NGP’s revenue during 1H 2015 to 1,942 million rubles (it almost doubled y-o-y). NGP does not use debt financing. Historically, the Company used a significant part of its net profit for paying dividends (74% in 2014).

Successful realization of the set goals within the framework of the long-term development strategy allowed NGP to retain leadership in the segment of deep-sea transshipment of grain for export during 9 months of 2015, and create prerequisites for retaining leadership positions in the future.


[1] With the use of trading system and listing of CJSC «MICEX SE», a part of the Moscow Exchange Group. More
Public Joint Stock company «Novorossyisk Grain Plant» announces the extention of the period to submit orders

Public Joint Stock company «Novorossyisk Grain Plant» announces the extention of the period to submit orders

24-11-2015

The information below may not be distributed outside of the Russian Federation. This information is released for information purposes only and, therefore, does not constitute and may not construed as an offer or an invitation to make an offer or information for executing any transactions, including transactions with securities or transactions intending to use or transfer securities or any interest therein. The information below contains "forward-looking statements", which include the description of intentions and plans in relation to the shares of Public Joint Stock Company «Novorossyisk Grain Plant» and can change from time to time, and does not constitute and may not construed as advertisement of securities, promise or guarantee of the sale of securities or any assets, placement of the securities or entry into any contract. This document contains personal assessments of the management, which may differ from those of third parties. An investor should evaluate his/her own risks while taking any investment decisions.

Public Joint Stock Company «Novorossyisk Grain Plant» ("Novorossyisk Grain Plant" or "NGP" or the "Company"), one of the largest grain terminals in Russia, announces about the extension of the period to submit orders for a public offering ("IPO" or the "Offering") of ordinary shares of NGP (the "Shares") on the Moscow Exchange[1].

The period to submit orders for the Offering has been extended until 18:00 MSK time, 30 November 2015.

IPO price announcement and start of trading on the Moscow Exchange are expected on 1 December 2015.

About the Company

Public company Novorossiysk Grain Plant (hereinafter – NGP or the “Company”) is one of Russia’s largest grain terminals. NGP’s facilities are located in the port of Novorossiysk on the Russian coast of the Black Sea, which serves as a main Russian grain export channel. NGP’s current capacity amounts to 3.5 million tons of grain a year and the terminal’s utilization rate is close to maximum. In the agricultural season of 2014-2015, NGP’s transshipment volume amounted to 3,550 thousand tons.

Russian grain maritime export market, where NGP operates, has entered the stage of rapid development. Over the last 15 years, Russian grain export has grown by almost 20 times. In the 2014-2015 season, Russian grain export exceeded 30 million tons (including the transit of grain from Kazakhstan). In the future export volumes will keep rising on the back of growing grain production in Russia and stable domestic consumption. According to the Ministry of Agriculture and the Ministry of Economic Development of the Russian Federation, grain production in Russia may surge up to 115 million tons by 2020. The majority of new production volumes are expected to be exported, which will boost demand for the services of deep-sea terminals.

Given that NGP is already close to maximum utilization, a large-scale expansion project has been launched. The investment project assumes reconstruction of the existing facilities but construction of new ones. As a result of the investment project, transshipment volumes are expected to increase to 6.1 million tons by 2018. NGP will be able to store up to 250 thousand tons of grains (forecast increase of 110 thousand tons) while the productivity of the conveyor gallery will increase from 1,600 to 3,500 tons per hour. Expansion has been launched and already in 2016 grain transshipment volumes should reach 4.5 million tons. Thus, NGP will retain one of the leading positions in the industry.

The Company has formed a reliable and stable client base. With such key clients as Vitol, Cargill, Glencore and Louis Dreyfus, the Company has been building relations throughout many years. Nevertheless, the terminal keeps on diversifying and enlarging the range of counterparties and strategic partners.

NGP is the only deep-see terminal in Russia with a diversified business model: in addition to transshipment services, it runs its own production facilities. Flour produced by NGP is both sold domestically and exported. The Company plans to build up its share of exports in the future, given the needs of the market.

The Company demonstrates excellent financial performance. In 2014, the Company’s revenue (according to IFRS financial statements) amounted to 3,090 million rubles, EBITDA - to 1,713 million rubles (55% EBITDA margin); net profit – to 1,319 million rubles (43% net income margin). The unique competences of NGP coupled with streamlined management processes triggered the surge of NGP’s revenue during 1H 2015 to 1,942 million rubles (it almost doubled y-o-y). NGP does not use debt financing. Historically, the Company used a significant part of its net profit for paying dividends (74% in 2014).

Successful realization of the set goals within the framework of the long-term development strategy allowed NGP to retain leadership in the segment of deep-sea transshipment of grain for export during 9 months of 2015, and create prerequisites for retaining leadership positions in the future.


[1] With the use of trading system and listing of CJSC «MICEX SE», a part of the Moscow Exchange Group.

More
Public Joint Stock company «Novorossyisk Grain Plant» announces the extention of the period to submit orders

Public Joint Stock company «Novorossyisk Grain Plant» announces the extention of the period to submit orders

23-11-2015

The information below may not be distributed outside of the Russian Federation. This information is released for information purposes only and, therefore, does not constitute and may not construed as an offer or an invitation to make an offer or information for executing any transactions, including transactions with securities or transactions intending to use or transfer securities or any interest therein. The information below contains "forward-looking statements", which include the description of intentions and plans in relation to the shares of Public Joint Stock Company «Novorossyisk Grain Plant» and can change from time to time, and does not constitute and may not construed as advertisement of securities, promise or guarantee of the sale of securities or any assets, placement of the securities or entry into any contract. This document contains personal assessments of the management, which may differ from those of third parties. An investor should evaluate his/her own risks while taking any investment decisions.

Public Joint Stock Company «Novorossyisk Grain Plant» ("Novorossyisk Grain Plant" or "NGP" or the "Company"), one of the largest grain terminals in Russia, announces about the extension of the period to submit orders for a public offering ("IPO" or the "Offering") of ordinary shares of NGP (the "Shares") on the Moscow Exchange[1].

Due to potential investors’ requests, a decision has been made to extend the period to submit orders for the IPO until 18:00 MSK time, 24 November 2015.

IPO price announcement and start of trading on the Moscow Exchange are expected on 25 November 2015.

About the Company

Public company Novorossiysk Grain Plant (hereinafter – NGP or the “Company”) is one of Russia’s largest grain terminals. NGP’s facilities are located in the port of Novorossiysk on the Russian coast of the Black Sea, which serves as a main Russian grain export channel. NGP’s current capacity amounts to 3.5 million tons of grain a year and the terminal’s utilization rate is close to maximum. In the agricultural season of 2014-2015, NGP’s transshipment volume amounted to 3,550 thousand tons.

Russian grain maritime export market, where NGP operates, has entered the stage of rapid development. Over the last 15 years, Russian grain export has grown by almost 20 times. In the 2014-2015 season, Russian grain export exceeded 30 million tons (including the transit of grain from Kazakhstan). In the future export volumes will keep rising on the back of growing grain production in Russia and stable domestic consumption. According to the Ministry of Agriculture and the Ministry of Economic Development of the Russian Federation, grain production in Russia may surge up to 115 million tons by 2020. The majority of new production volumes are expected to be exported, which will boost demand for the services of deep-sea terminals.

Given that NGP is already close to maximum utilization, a large-scale expansion project has been launched. The investment project assumes reconstruction of the existing facilities but construction of new ones. As a result of the investment project, transshipment volumes are expected to increase to 6.1 million tons by 2018. NGP will be able to store up to 250 thousand tons of grains (forecast increase of 110 thousand tons) while the productivity of the conveyor gallery will increase from 1,600 to 3,500 tons per hour. Expansion has been launched and already in 2016 grain transshipment volumes should reach 4.5 million tons. Thus, NGP will retain one of the leading positions in the industry.

The Company has formed a reliable and stable client base. With such key clients as Vitol, Cargill, Glencore and Louis Dreyfus, the Company has been building relations throughout many years. Nevertheless, the terminal keeps on diversifying and enlarging the range of counterparties and strategic partners.

NGP is the only deep-see terminal in Russia with a diversified business model: in addition to transshipment services, it runs its own production facilities. Flour produced by NGP is both sold domestically and exported. The Company plans to build up its share of exports in the future, given the needs of the market.

The Company demonstrates excellent financial performance. In 2014, the Company’s revenue (according to IFRS financial statements) amounted to 3,090 million rubles, EBITDA - to 1,713 million rubles (55% EBITDA margin); net profit – to 1,319 million rubles (43% net income margin). The unique competences of NGP coupled with streamlined management processes triggered the surge of NGP’s revenue during 1H 2015 to 1,942 million rubles (it almost doubled y-o-y). NGP does not use debt financing. Historically, the Company used a significant part of its net profit for paying dividends (74% in 2014).

Successful realization of the set goals within the framework of the long-term development strategy allowed NGP to retain leadership in the segment of deep-sea transshipment of grain for export during 9 months of 2015, and create prerequisites for retaining leadership positions in the future.


[1] With the use of trading system and listing of CJSC «MICEX SE», a part of the Moscow Exchange Group.

More
Public Joint Stock Company «Novorossyisk Grain Plant» announces the price range of the offering of shares on behalf of the selling shareholder

Public Joint Stock Company «Novorossyisk Grain Plant» announces the price range of the offering of shares on behalf of the selling shareholder

17-11-2015

The information below may not be distributed outside of the Russian Federation. This information is released for information purposes only and, therefore, does not constitute and may not construed as an offer or an invitation to make an offer or information for executing any transactions, including transactions with securities or transactions intending to use or transfer securities or any interest therein. The information below contains "forward-looking statements", which include the description of intentions and plans in relation to the shares of Public Joint Stock Company «Novorossyisk Grain Plant» and can change from time to time, and does not constitute and may not construed as advertisement of securities, promise or guarantee of the sale of securities or any assets, placement of the securities or entry into any contract. This document contains personal assessments of the management, which may differ from those of third parties. An investor should evaluate his/her own risks while taking any investment decisions.

Public Joint Stock Company «Novorossyisk Grain Plant» ("Novorossyisk Grain Plant" or "NGP" or the "Company"), one of the largest grain terminals in Russia, on behalf of the Company’s shareholder, BELCARRA SERVICE LIMITED (Cyprus), announces the price range of a public offering ("IPO" or the "Offering") of ordinary shares of NGP (the "Shares") on the Moscow Exchange[1].

  • The price range has been set at between RUB 444 and RUB 518 per Share.
  • BELCARRA SERVICES LIMITED intends to offer 10.8% of the Shares during the Offering.
  • The Shares have been admitted to trading on the Moscow Exchange in the First (Highest) Level quotation list.
  • Top-management of NGP intends to purchase the Shares during the Offering.
  • Orders can be submitted through the Moscow Exchange with the use of exchange’s bookbuilding mechanism starting from 17 November until 23 November, inclusive.
  • The IPO price announcement is planned for 24 November 2015.
  • The Offering provides for the sale of Shares through the facilities of the Moscow Exchange pursuant to its settlement procedures.
  • As a result of the Offering, the Company’s Free Float may stand at more than 25% of the Shares including existing minority shareholders.
  • The Company plans that the number of Shares outstanding will remain unchanged for 180 days after the Offering.
  • VTB Capital is the Sole Global Coordinator and Bookrunner of the Offering. BCS Financial Group is the Co-Lead Manager of the Offering.

About the Company

Public company Novorossiysk Grain Plant (hereinafter – NGP or the “Company”) is one of Russia’s largest grain terminals. NGP’s facilities are located in the port of Novorossiysk on the Russian coast of the Black Sea, which serves as a main Russian grain export channel. NGP’s current capacity amounts to 3.5 million tons of grain a year and the terminal’s utilization rate is close to maximum. In the agricultural season of 2014-2015, NGP’s transshipment volume amounted to 3,550 thousand tons.

Russian grain maritime export market, where NGP operates, has entered the stage of rapid development. Over the last 15 years, Russian grain export has grown by almost 20 times. In the 2014-2015 season, Russian grain export exceeded 30 million tons (including the transit of grain from Kazakhstan). In the future export volumes will keep rising on the back of growing grain production in Russia and stable domestic consumption. According to the Ministry of Agriculture and the Ministry of Economic Development of the Russian Federation, grain production in Russia may surge up to 115 million tons by 2020. The majority of new production volumes are expected to be exported, which will boost demand for the services of deep-sea terminals.

Given that NGP is already close to maximum utilization, a large-scale expansion project has been launched. The investment project assumes reconstruction of the existing facilities but construction of new ones. As a result of the investment project, transshipment volumes are expected to increase to 6.1 million tons by 2018. NGP will be able to store up to 250 thousand tons of grains (forecast increase of 110 thousand tons) while the productivity of the conveyor gallery will increase from 1,600 to 3,500 tons per hour. Expansion has been launched and already in 2016 grain transshipment volumes should reach 4.5 million tons. Thus, NGP will retain one of the leading positions in the industry.

The Company has formed a reliable and stable client base. With such key clients as Vitol, Cargill, Glencore and Louis Dreyfus, the Company has been building relations throughout many years. Nevertheless, the terminal keeps on diversifying and enlarging the range of counterparties and strategic partners.

NGP is the only deep-see terminal in Russia with a diversified business model: in addition to transshipment services, it runs its own production facilities. Flour produced by NGP is both sold domestically and exported. The Company plans to build up its share of exports in the future, given the needs of the market.

The Company demonstrates excellent financial performance. In 2014, the Company’s revenue (according to IFRS financial statements) amounted to 3,090 million rubles, EBITDA - to 1,713 million rubles (55% EBITDA margin); net profit – to 1,319 million rubles (43% net income margin). The unique competences of NGP coupled with streamlined management processes triggered the surge of NGP’s revenue during 1H 2015 to 1,942 million rubles (it almost doubled y-o-y). As of 1 November 2015 NGP does not use debt financing. Historically, the Company used a significant part of its net profit for paying dividends (74% in 2014).

Successful realization of the set goals within the framework of the long-term development strategy allowed NGP to retain leadership in the segment of deep-sea transshipment of grain for export during 9 months of 2015, and create prerequisites for retaining leadership positions in the future.


[1] With the use of trading system and listing of CJSC «MICEX SE», a part of the Moscow Exchange Group.

More
Public Joint Stock Company «Novorossyisk Grain Plant» announces intention of the shareholder to conduct a public offering of shares

Public Joint Stock Company «Novorossyisk Grain Plant» announces intention of the shareholder to conduct a public offering of shares

10-11-2015

The information below may not be distributed outside of the Russian Federation. This information is released for information purposes only and, therefore, does not constitute and may not construed as an offer or an invitation to make an offer or information for executing any transactions, including transactions with securities or transactions intending to use or transfer securities or any interest therein. The information below contains "forward-looking statements", which include the description of intentions and plans in relation to the shares of Public Joint Stock Company «Novorossyisk Grain Plant» and can change from time to time, and does not constitute and may not construed as advertisement of securities, promise or guarantee of the sale of securities or any assets, placement of the securities or entry into any contract. This document contains personal assessments of the management, which may differ from those of third parties. An investor should evaluate his/her own risks while taking any investment decisions.

Public Joint Stock Company «Novorossyisk Grain Plant» ("Novorossyisk Grain Plant" or "NGP" or the "Company"), one of the largest grain terminals in Russia, announces intention of the Company’s shareholder, BELCARRA SERVICE LIMITED (Cyprus), to conduct a public offering ("IPO" or the "Offering") of ordinary shares of NGP (the "Shares") on the Moscow Exchange[1].

It is expected that the Offering size would amount to at least 10% of the Shares.

The Offering is scheduled for the second half of November 2015 and envisages a contemplation of an offer of the Shares through the facilities of the Moscow Exchange pursuant to its settlement procedures.

The Company expects the Shares to be admitted to trading on the Moscow Exchange in the First (Highest) Level quotation list by the time of the Offering.

VTB Capital is the Sole Global Coordinator and Bookrunner of the Offering.

Alexey Chemerichko, the CEO of NGP, commented:

“The Company demonstrates stable growth of financial and operating indicators, undertakes a large scale program of reconstruction and expansion of its operating facilities. The IPO represents a major milestone in the development of the Company. We expect that this deal will strengthen the Company’s reputation in the industry, provide our minority shareholders with the opportunity to trade the NGP’s shares on the exchange, as well as broaden the Company’s access to the capital markets. We remain focused on increasing market share and improving business efficiency to enhance the Company’s value”

About the Company

Public company Novorossiysk Grain Plant (hereinafter – NGP or the “Company”) is one of Russia’s largest grain terminals. NGP’s facilities are located in the port of Novorossiysk on the Russian coast of the Black Sea, which serves as a main Russian grain export channel. NGP’s current capacity amounts to 3.5 million tons of grain a year and the terminal’s utilization rate is close to maximum. In the agricultural season of 2014-2015,  NGP’s transshipment volume  amounted to 3,550 thousand tons.

Russian grain maritime export market, where NGP operates, has entered the stage of rapid development. Over the last 15 years, Russian grain export has grown by almost 20 times. In the 2014-2015 season, Russian grain export exceeded 30 million tons (including the transit of grain from Kazakhstan). In the future export volumes will keep rising on the back of growing grain production in Russia and stable domestic consumption. According to the Ministry of Agriculture and the Ministry of Economic Development of the Russian Federation, grain production in Russia may surge up to 115 million tons by 2020. The majority of new production volumes are expected to be exported, which will boost demand for the services of deep-sea terminals.

Given that NGP is already close to maximum utilization, a large-scale expansion project has been launched. The investment project assumes reconstruction of the existing facilities but construction of new ones. As a result of the investment project, transshipment volumes are expected to increase to 6.1 million tons by 2018. NGP will be able to store up to 250 thousand tons of grains (forecast increase of 110 thousand tons) while the productivity of the conveyor gallery will increase from 1,600 to 3,500 tons per hour. Expansion has been launched and already in 2016 grain transshipment volumes should reach 4.5 million tons. Thus, NGP will retain one of the leading positions in the industry.

The Company has formed a reliable and stable client base. With such key clients as Vitol, Cargill, Glencore and Louis Dreyfus, the Company has been building relations throughout many years. Nevertheless, the terminal keeps on diversifying and enlarging the range of counterparties and strategic partners.

NGP is the only deep-see terminal in Russia with a diversified business model: in addition to transshipment services, it runs its own production facilities. Flour produced by NGP is both sold domestically and exported. The Company plans to build up its share of exports in the future, given the needs of the market.

The Company demonstrates excellent financial performance. In 2014, the Company’s revenue (according to IFRS financial statements) amounted to 3,090 million rubles, EBITDA - to 1,713 million rubles (55% EBITDA margin); net profit – to 1,319 million rubles (43% net income margin). The unique competences of NGP coupled with streamlined management processes triggered the surge of NGP’s revenue during 1H 2015 to 1,942 million rubles (it almost doubled y-o-y). As of 1 November  2015 NGP does not use debt financing. Historically, the Company used a significant part of its net profit for paying dividends (74% in 2014).

Successful realization of the set goals within the framework of the long-term development strategy allowed NGP to retain leadership in the segment of deep-sea transshipment of grain for export during 9 months of 2015, and create prerequisites for retaining leadership positions in the future.

 

[1] With the use of trading system and listing of CJSC «MICEX SE», a part of the Moscow Exchange Group.

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